LONDON--(BUSINESS WIRE)--The global dimethylformamide (DMF) market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Dimethylformamide is widely used raw material in the production of petrochemical products such as butadiene. Butadiene is used in the manufacture of synthetic rubber, nylon, and automotive tires. DMF is also used as a feedstock in the manufacture of PU. The increasing production of synthetic rubber and PU is driving the demand for DMF from the chemicals industry.
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As per Technavio, rising R&D activities on DMF will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Dimethylformamide Market: Rising R&D Activities on DMF
Many research firms and manufacturers are increasing R&D efforts to explore new applications of DMF. For instance, a research study found that DMF can be used as a solvent to manufacture graphene nanocomposites. DMF is used in the manufacture of efficient solar cells that can be used in power conservation. Therefore, the rise in R&D activities is helping to increase the applications of DMF, which is expected to boost market growth during the forecast period.
“Growing agriculture industry and increasing production capacity for thermoplastic PU are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Dimethylformamide Market: Segmentation Analysis
This market report segments the global dimethylformamide market by geography (APAC, Europe, MEA, North America, and South America) and end-users (chemicals, electronics, pharmaceuticals, and others).
The APAC region led the market in 2018, followed by Europe, North America, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the growing demand for PCBs across various end-user applications in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic segmentation
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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